performance, says Luis José Bourget, director, planning and budget department, CBDR.
“Two years after the PMO was founded, we started assessing our work and
looking for outside information regarding our performance,” he says.
PMI’s Organizational Project Management Maturity Model (OPM3®) helped
identify and fill gaps in the PMO’s processes—and fueled even more progress.
“Increasing our project management maturity has helped us achieve strategic objectives at the institution at a much faster pace,” Mr. Bourget says.
Using OPM3, the PMO has uncovered new opportunities to improve its
performance year after year. An internal benchmark drawn from OPM3
showed the team significantly increased its maturity. And the improvement
process continues, Ms. Duran says.
“Each year after the evaluation, we note the processes we lack, those that
would be useful and those we are ready to implement,” she says.
Improving documentation has been a central part of the PMO’s maturation.
The move not only helps the PMO team identify relationships among projects
and avoid redundancy within the portfolio, it also means teams aren’t doomed
to repeat history.
Prior to the PMO, important projects were executed without leaving a paper
trail, robbing future project teams of valuable lessons learned. “That’s very sad,
from an institutional point of view,” Mr. Bourget says.
With in-depth project recordkeeping now the norm, the
CBDR has improved project planning across the institution
and allowed the PMO to deliver better results.
“With the project management methodology now in
place, we have full documentation for over 400 projects
that have been successful all along the way,” Mr. Bourget
says. “And we have lessons learned and experiences to
share with the community and with the future generations
of central bankers.”
The Next Horizon
Since its launch, the PMO has not only improved the
bank’s project performance, it has helped deliver macroeconomic stability during a period of global financial turmoil and evolve the Dominican Republic’s financial system.
“Now a check can clear the next day,” Ms. Herrera says.
“That’s a huge achievement for a country where check-clearing used to take
Other CBDR projects have made it easier for people in rural areas to open
bank accounts. By supporting the departments that created a regulatory
at a much
—Luis José Bourget
“We give the national financial system the stability it needs in
order to bring international investments here and improve the
way the banks work. The PMO is working for the greater good.”